XML 152 R49.htm IDEA: XBRL DOCUMENT v3.23.2
Revenue from Contracts with Customers - Disaggregated Revenue (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2022
Dec. 31, 2021
Revenue disaggregated by segment                
Total revenues $ 4,007 $ 3,489 [1] $ 3,397 $ 7,852 $ 7,116 [1] $ 6,743 $ 14,334 $ 13,389
Banking and deposit interest expense (131) (3) [1]   (234) (5) [1]      
Total net revenues 3,876 3,486 [1] 3,395 7,618 7,111 [1] 6,736 14,258 13,377
Management and financial advice fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 2,199 2,277 [1]   4,336 4,736 [1]      
Distribution fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 482 459 [1] $ 452 999 905 [1] $ 910 $ 1,939 $ 1,828
Advice & Wealth Management                
Revenue disaggregated by segment                
Total net revenues 2,132 1,835   4,196 3,649      
Asset Management                
Revenue disaggregated by segment                
Total net revenues 789 870   1,571 1,875      
Retirement & Protection Solutions                
Revenue disaggregated by segment                
Total net revenues 754 655   1,476 1,311      
Corporate & Other                
Revenue disaggregated by segment                
Total net revenues 151 119   281 235      
Intersegment eliminations                
Revenue disaggregated by segment                
Total net revenues (331) (337)   (647) (689)      
Intersegment eliminations | Advice & Wealth Management                
Revenue disaggregated by segment                
Total net revenues (211) (221)   (412) (449)      
Intersegment eliminations | Asset Management                
Revenue disaggregated by segment                
Total net revenues (19) (11)   (36) (23)      
Intersegment eliminations | Retirement & Protection Solutions                
Revenue disaggregated by segment                
Total net revenues (104) (105)   (206) (217)      
Intersegment eliminations | Corporate & Other                
Revenue disaggregated by segment                
Total net revenues 3 0   7 0      
Reportable segments                
Revenue disaggregated by segment                
Revenue from contracts with customers 2,870 2,910   5,700 5,993      
Revenue from other sources 1,421 909   2,712 1,771      
Total revenues 4,291 3,819   8,412 7,764      
Banking and deposit interest expense (134) (3)   (241) (5)      
Total net revenues 4,157 3,816   8,171 7,759      
Reportable segments | Management and financial advice fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 2,063 2,125   4,067 4,415      
Reportable segments | Asset Management: Retail                
Revenue disaggregated by segment                
Revenue from contracts with customers 490 543   981 1,187      
Reportable segments | Asset Management: Institutional                
Revenue disaggregated by segment                
Revenue from contracts with customers 157 173   309 368      
Reportable segments | Advisory fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 1,154 1,144   2,263 2,335      
Reportable segments | Financial planning fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 104 99   205 196      
Reportable segments | Transaction and other fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 158 166   309 329      
Reportable segments | Distribution fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 741 730   1,504 1,465      
Reportable segments | Mutual funds                
Revenue disaggregated by segment                
Revenue from contracts with customers 230 244   457 513      
Reportable segments | Insurance and annuity                
Revenue disaggregated by segment                
Revenue from contracts with customers 343 346   672 708      
Reportable segments | Off-balance sheet brokerage cash                
Revenue disaggregated by segment                
Revenue from contracts with customers 84 54   210 70      
Reportable segments | Other products                
Revenue disaggregated by segment                
Revenue from contracts with customers 84 86   165 174      
Reportable segments | Other revenues                
Revenue disaggregated by segment                
Revenue from contracts with customers 66 55   129 113      
Reportable segments | Advice & Wealth Management                
Revenue disaggregated by segment                
Revenue from contracts with customers 1,982 1,936   3,932 3,898      
Revenue from other sources 492 123   910 205      
Total revenues 2,474 2,059   4,842 4,103      
Banking and deposit interest expense (131) (3)   (234) (5)      
Total net revenues 2,343 2,056   4,608 4,098      
Reportable segments | Advice & Wealth Management | Management and financial advice fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 1,354 1,340   2,653 2,720      
Reportable segments | Advice & Wealth Management | Asset Management: Retail                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Advice & Wealth Management | Asset Management: Institutional                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Advice & Wealth Management | Advisory fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 1,154 1,144   2,263 2,335      
Reportable segments | Advice & Wealth Management | Financial planning fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 104 99   205 196      
Reportable segments | Advice & Wealth Management | Transaction and other fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 96 97   185 189      
Reportable segments | Advice & Wealth Management | Distribution fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 569 542   1,162 1,071      
Reportable segments | Advice & Wealth Management | Mutual funds                
Revenue disaggregated by segment                
Revenue from contracts with customers 179 186   354 390      
Reportable segments | Advice & Wealth Management | Insurance and annuity                
Revenue disaggregated by segment                
Revenue from contracts with customers 222 216   433 437      
Reportable segments | Advice & Wealth Management | Off-balance sheet brokerage cash                
Revenue disaggregated by segment                
Revenue from contracts with customers 84 54   210 70      
Reportable segments | Advice & Wealth Management | Other products                
Revenue disaggregated by segment                
Revenue from contracts with customers 84 86   165 174      
Reportable segments | Advice & Wealth Management | Other revenues                
Revenue disaggregated by segment                
Revenue from contracts with customers 59 54   117 107      
Reportable segments | Asset Management                
Revenue disaggregated by segment                
Revenue from contracts with customers 792 871   1,578 1,881      
Revenue from other sources 16 10   29 17      
Total revenues 808 881   1,607 1,898      
Banking and deposit interest expense 0 0   0 0      
Total net revenues 808 881   1,607 1,898      
Reportable segments | Asset Management | Management and financial advice fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 695 770   1,386 1,664      
Reportable segments | Asset Management | Asset Management: Retail                
Revenue disaggregated by segment                
Revenue from contracts with customers 490 543   981 1,187      
Reportable segments | Asset Management | Asset Management: Institutional                
Revenue disaggregated by segment                
Revenue from contracts with customers 157 173   309 368      
Reportable segments | Asset Management | Advisory fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Asset Management | Financial planning fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Asset Management | Transaction and other fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 48 54   96 109      
Reportable segments | Asset Management | Distribution fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 90 100   180 211      
Reportable segments | Asset Management | Mutual funds                
Revenue disaggregated by segment                
Revenue from contracts with customers 51 58   103 123      
Reportable segments | Asset Management | Insurance and annuity                
Revenue disaggregated by segment                
Revenue from contracts with customers 39 42   77 88      
Reportable segments | Asset Management | Off-balance sheet brokerage cash                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Asset Management | Other products                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Asset Management | Other revenues                
Revenue disaggregated by segment                
Revenue from contracts with customers 7 1   12 6      
Reportable segments | Retirement & Protection Solutions                
Revenue disaggregated by segment                
Revenue from contracts with customers 96 103   190 214      
Revenue from other sources 762 657   1,492 1,314      
Total revenues 858 760   1,682 1,528      
Banking and deposit interest expense 0 0   0 0      
Total net revenues 858 760   1,682 1,528      
Reportable segments | Retirement & Protection Solutions | Management and financial advice fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 14 15   28 31      
Reportable segments | Retirement & Protection Solutions | Asset Management: Retail                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Retirement & Protection Solutions | Asset Management: Institutional                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Retirement & Protection Solutions | Advisory fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Retirement & Protection Solutions | Financial planning fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Retirement & Protection Solutions | Transaction and other fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 14 15   28 31      
Reportable segments | Retirement & Protection Solutions | Distribution fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 82 88   162 183      
Reportable segments | Retirement & Protection Solutions | Mutual funds                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Retirement & Protection Solutions | Insurance and annuity                
Revenue disaggregated by segment                
Revenue from contracts with customers 82 88   162 183      
Reportable segments | Retirement & Protection Solutions | Off-balance sheet brokerage cash                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Retirement & Protection Solutions | Other products                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Retirement & Protection Solutions | Other revenues                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Revenue from other sources 151 119   281 235      
Total revenues 151 119   281 235      
Banking and deposit interest expense (3) 0   (7) 0      
Total net revenues 148 119   274 235      
Reportable segments | Corporate & Other | Management and financial advice fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Asset Management: Retail                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Asset Management: Institutional                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Advisory fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Financial planning fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Transaction and other fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Distribution fees                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Mutual funds                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Insurance and annuity                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Off-balance sheet brokerage cash                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Other products                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Reportable segments | Corporate & Other | Other revenues                
Revenue disaggregated by segment                
Revenue from contracts with customers 0 0   0 0      
Non-operating                
Revenue disaggregated by segment                
Revenue from other sources 53 9   100 46      
Total revenues 53 9   100 46      
Total net revenues 53 9   100 46      
Segment reconciling items                
Revenue disaggregated by segment                
Total net revenues 50 7   94 41      
Eliminations                
Revenue disaggregated by segment                
Total net revenues (334) (339)   (653) (694)      
Total                
Revenue disaggregated by segment                
Revenue from other sources 1,474 918   2,812 1,817      
Total revenues 4,344 3,828   8,512 7,810      
Banking and deposit interest expense (134) (3)   (241) (5)      
Total net revenues 4,210 3,825   8,271 7,805      
Total Segments after intersegment eliminations | Reportable segments                
Revenue disaggregated by segment                
Total net revenues 3,826 3,479   7,524 7,070      
Non-operating | Segment reconciling items                
Revenue disaggregated by segment                
Total net revenues 46 20   87 37      
Non-operating | Eliminations                
Revenue disaggregated by segment                
Total net revenues $ (3) $ (2)   $ (6) $ (5)      
[1] Certain prior period amounts have been restated. See Note 3 for more information.